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Bloomberg/Olivia Rockeman/8-12-2020
“U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted as the pandemic suppressed demand. The consumer price index rose 0.6% from the prior month, following a 0.6% gain in June, Labor Department figures showed Wednesday.”
USAGOLD note: Back to back months registering a pulse in the inflation rate will raise an eyebrow or two in financial circles and give credibility to the inflation argument touted by a good many economists.
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